Shangri-La says hotel occupancy may dip

Article Date : 09 September 2008

Shangri-La Asia, the region’s biggest luxury-hotel operator, may book fewer rooms this year as rising airfares and a slumping world economy hurt tourism. In an earnings report the hotel group said, ‘It is generally considered unlikely that hotels will experience the high levels of occupancies witnessed in 2007.’ Shangri-La’s net income fell 15% to $135.7 million in...

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Article provided by China Economic Review.
Read the full article here: http://www.chinaeconomicreview.com/hotels/2008/09/10/shangri-la-says-hotel-occupancy-may-dip.html

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Shangri-La says hotel occupancy may dip

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